Purpose: This paper aims to investigate the contemporaneous link between price volatility and trading volume in the futures markets of energy. Design/methodology/approach: Non-parametric (local linear) regression models and formal statistical tests are used to assess monotonicity, linearity and...

Purpose: The relationship between returns and trading volume is central in financial economics because it has both a theoretical interest and important practical implications with regard to the structure of financial markets and the level of speculation activity. The aim of this study is to...